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25/05/2022 03:36pm

MSME Fintech lender U GRO Capital reports 114% jump in disbursements

image MSME Fintech lender U GRO Capital reports 114% jump in disbursements

Mumbai, May 25 (KNN) MSME Fintech lender U GRO Capital Limited has announced that its disbursements for Q4FY22 stood at Rs 963 crore recording a growth of 114 per cent over Q4FY21.

On Wednesday, the Board of Directors of U GRO Capital Limited approved the financial results for the quarter and financial year which ended on March 31, 2022.

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The Company’s AUM stood at Rs 2,969 crore compared to Rs 1,317 crore as of March 31, 2021, a 125 per cent increase on a YoY basis.

While the gross disbursements for FY22 stood at Rs 3,138 crore, a 173 per cent YoY growth compared to Rs 1,147 crore in FY21.

Commenting on the results, Shachindra Nath, VC and MD of U GRO Capital said, “The company has built formidable distribution strength by scaling up its asset channels in FY22 to support future growth plans. We have been pioneers of the co-lending model in the industry and have set course for transitioning our business model to lending as a service.”

“Data analytics and technology is at the forefront of our business model. We have been able to implement one of the best underwriting models and build a robust tech architecture to support the end-to-end digital customer journey through API. Going forward, our focus shall remain on growing our book profitably, by increasing the proportion of our off-book AUM,” he added.  (KNN Bureau)

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